Workers’ remittances rise over 6.37per cent to $11.57 billion in First ten Months of FY13

Karachi, May 13, 2013 (PPI-OT): Overseas Pakistani workers remitted an amount of $11,569.82 million in the first ten months (July – April) of the current fiscal year 2012‐13 (FY13), showing a growth of 6.37 percent or $692.83 million when compared with $10,876.99 million received during the same period of last fiscal year (July‐ April 2012).

The inflow of remittances in July‐ April, 2013 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $3,371.59 million, $2,312.01 million, $1,819.85 million, $1,611.11 million, $1,331.67 million and $297.69 million respectively as compared with the inflow of $2,987.86 million, $2,386.26 million, $1,922.35 million, $1,263.67 million, $1,226.61 million and $304.59 million respectively in July‐ April 2012. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first ten months of current fiscal year (July‐ April FY13) amounted to $825.80 million as against $785.65 million received in the first ten months of last fiscal year (July‐ April FY12).

The monthly average remittances for July‐April 2013 period comes out to $1,156.98 million as compared to $1,087.70 million during the corresponding period of the last fiscal year. In April 2013, the inflow of remittances from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $392.28 million, $226.07 million, $183.19 million, $176.14 million, $135.81 million and $28.65 million respectively as compared with the inflow of $332.43 million, $ 245.33 million, $198.00 million, $131.82 million, $127.12 million and $31.14 million respectively in April, 2012. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the tenth month of the current fiscal year (April FY13) amounted to $73.76 million.

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk

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